1 00:00:03,930 --> 00:00:07,470 Michael: It's Tuesday, the 5th of October, 2021. Welcome to Fear 2 00:00:07,470 --> 00:00:09,740 Michael: and Greed, the business podcast that sets you up for 3 00:00:09,740 --> 00:00:13,039 Michael: a successful day. I'm Michael Thompson and good morning, Sean Aylmer. 4 00:00:13,250 --> 00:00:14,070 Sean: Good morning, Michael. 5 00:00:14,220 --> 00:00:17,010 Michael: The world's leading energy agency says Australia can be a 6 00:00:17,010 --> 00:00:21,040 Michael: major exporter into Asia. That's our main story, plus great 7 00:00:21,040 --> 00:00:23,460 Michael: news on the COVID front for New South Wales, more 8 00:00:23,460 --> 00:00:26,310 Michael: takeovers and the price of a cup of coffee set 9 00:00:26,310 --> 00:00:29,680 Michael: to rise. Then, stay listening for Sean's chat to Romano 10 00:00:29,680 --> 00:00:33,140 Michael: Sala Tenna from Katana Asset Management, all about the oil 11 00:00:33,140 --> 00:00:36,610 Michael: and gas sector. But first Sean, I mentioned a new 12 00:00:36,620 --> 00:00:39,839 Michael: report that says, " Australia has tremendous potential to be an 13 00:00:39,840 --> 00:00:44,270 Michael: affordable supplier of low carbon hydrogen energy into Asia." 14 00:00:44,690 --> 00:00:49,500 Sean: Yes, the international energy agency is very optimistic about Australia 15 00:00:49,500 --> 00:00:52,820 Sean: playing a major role in the green revolution. It said, " 16 00:00:52,820 --> 00:00:57,310 Sean: there are nine major clean hydrogen projects in Australia underway" 17 00:00:57,400 --> 00:01:00,340 Sean: and in terms of future capacity, Australia is only just 18 00:01:00,340 --> 00:01:03,830 Sean: behind Europe, which is pretty remarkable. It comes as Australia's 19 00:01:04,000 --> 00:01:08,209 Sean: second richest person, Andrew Forrest, on Monday called for policy 20 00:01:08,209 --> 00:01:11,230 Sean: settings to allow the development of a large hydrogen industry 21 00:01:11,230 --> 00:01:16,140 Sean: in Australia. He called hydrogen " the miracle molecule." Other industry 22 00:01:16,140 --> 00:01:19,279 Sean: leaders have also gotten behind it in recent months. Macquarie 23 00:01:19,280 --> 00:01:23,420 Sean: Bank's Shemara Wikramanayake and senior leaders of origin, energy, and 24 00:01:23,440 --> 00:01:28,020 Sean: BHP have all pushed green hydrogen as a viable alternative 25 00:01:28,080 --> 00:01:32,110 Sean: to fossil fuels. The international energy agency says hydrogen is 26 00:01:32,110 --> 00:01:35,010 Sean: one of the most promising renewable energy sources for heavy 27 00:01:35,010 --> 00:01:39,370 Sean: industry, such as factories in transport, but it says investment 28 00:01:39,370 --> 00:01:44,200 Sean: of around $ 1. 2 trillion USD worldwide is needed over 29 00:01:44,200 --> 00:01:48,360 Sean: the next decade. 1. 2 trillion dollars is an extraordinary 30 00:01:48,360 --> 00:01:50,940 Sean: amount of money. Is this all too pie in the sky? 31 00:01:51,290 --> 00:01:54,580 Michael: Well, the agency said, " after a number of false starts, 32 00:01:54,820 --> 00:01:58,450 Michael: there is now exciting progress in making hydrogen cleaner, more 33 00:01:58,450 --> 00:02:02,180 Michael: affordable and more available." But Michael, as you suggest, there 34 00:02:02,180 --> 00:02:05,070 Michael: is a way to go. Global production of low carbon 35 00:02:05,070 --> 00:02:08,990 Michael: hydrogen is minimal and it's not yet cost effective, but 36 00:02:09,030 --> 00:02:12,280 Michael: 17 governments have now released hydrogen strategies that were just 37 00:02:12,280 --> 00:02:15,930 Michael: two years ago. So, that's a pretty good start. The 38 00:02:15,930 --> 00:02:19,200 Michael: real trick is to make sure the hydrogen production is 39 00:02:19,200 --> 00:02:23,430 Michael: green rather than dirty. Producing hydrogen takes large amounts of 40 00:02:23,430 --> 00:02:26,790 Michael: electricity and for the hydrogen to be green, the electricity 41 00:02:26,840 --> 00:02:30,760 Michael: needs to come from renewable sources. So, really, Sean overall, 42 00:02:30,760 --> 00:02:33,530 Michael: the main point here is that Australia could well be 43 00:02:33,530 --> 00:02:35,060 Michael: a player in green hydrogen? 44 00:02:35,340 --> 00:02:38,340 Sean: Yes, yes, yes. It will take money, public money and 45 00:02:38,340 --> 00:02:41,530 Sean: private money. It will take government direction and probably take 46 00:02:41,530 --> 00:02:44,210 Sean: a fair bit of luck too, but it's a future 47 00:02:44,250 --> 00:02:47,090 Sean: industry, not just for the next 10, 20, 50 years, for 48 00:02:47,090 --> 00:02:50,619 Sean: the next centuries. And the international energy agency is pushing 49 00:02:50,620 --> 00:02:51,800 Sean: Australia to jump in. 50 00:02:52,150 --> 00:02:55,239 Michael: Interesting one. All right, so how did the markets perform yesterday? 51 00:02:55,560 --> 00:02:57,630 Sean: Well, it was a day of light trading with half 52 00:02:57,630 --> 00:03:00,260 Sean: the country not working due to the long weekend, but 53 00:03:00,260 --> 00:03:02,220 Sean: the market had a good day ending up 1. 3% to 7, 54 00:03:03,790 --> 00:03:09,060 Sean: 279 points with news of international travel reopening next month. 55 00:03:09,240 --> 00:03:12,110 Sean: It was the travel and tourism stocks and international education 56 00:03:12,110 --> 00:03:16,300 Sean: companies that outperformed. Flight center travel, for example, jumped more 57 00:03:16,300 --> 00:03:20,470 Sean: than 9% while IDP education, which relies on overseas students, 58 00:03:20,690 --> 00:03:24,270 Sean: it was up 8.8%. Commonwealth Bank, which fell more than 4% 59 00:03:24,570 --> 00:03:28,500 Sean: on Friday was up 4. 6% today. Now, these sorts of 60 00:03:28,500 --> 00:03:30,839 Sean: numbers jump around a lot when there's such light trading. 61 00:03:30,840 --> 00:03:33,779 Sean: Normal share market services should resume today. 62 00:03:34,160 --> 00:03:36,440 Michael: Okay, and what about overnight? What happened on wall street? 63 00:03:36,770 --> 00:03:40,060 Sean: Wall Street reacted to higher crude prices with the major 64 00:03:40,060 --> 00:03:42,820 Sean: indices tumbling. The tech heavy NASDAQ was off 2. 3% 65 00:03:43,820 --> 00:03:46,620 Sean: in early afternoon trading, while both the Dow Jones industrial 66 00:03:46,620 --> 00:03:51,040 Sean: average and S&P 500 were more than 1% lower. European markets were also 67 00:03:51,040 --> 00:03:54,680 Sean: lower. So, what's happening with oil? Well, prices headed three 68 00:03:54,700 --> 00:03:58,840 Sean: year high overnight after OPEX said it wouldn't lift crude 69 00:03:58,840 --> 00:04:01,870 Sean: production. This is on top of record high prices for 70 00:04:01,870 --> 00:04:06,030 Sean: natural gas and coal. Energy inflation has the potential to 71 00:04:06,030 --> 00:04:10,050 Sean: derail the economic recovery and really it's among the main 72 00:04:10,050 --> 00:04:13,380 Sean: threats to equity markets at the moment. The Aussie dollar 73 00:04:13,380 --> 00:04:16,010 Sean: is trading at just under 73 U. S cents. 74 00:04:16,230 --> 00:04:17,670 Michael: We'll be back in a moment with the rest of 75 00:04:17,670 --> 00:04:25,760 Michael: the day's business news. Sean, the COVID situation in New 76 00:04:25,760 --> 00:04:30,060 Michael: South Wales is improving. It seems with 623 new cases 77 00:04:30,060 --> 00:04:33,450 Michael: yesterday, the lowest daily tally since the middle of August, 78 00:04:33,450 --> 00:04:36,339 Michael: good news, and the seven day average of cases has 79 00:04:36,339 --> 00:04:37,770 Michael: fallen to 805. 80 00:04:38,100 --> 00:04:41,350 Sean: Michael, vaccinations are working and the state now has more 81 00:04:41,350 --> 00:04:45,339 Sean: than 88% of people having received a first jab and 2/ 82 00:04:45,339 --> 00:04:49,479 Sean: 3 are fully vaccinated. The 70% mark is expected to 83 00:04:49,480 --> 00:04:51,520 Sean: be reached in the next couple of days, which means 84 00:04:51,520 --> 00:04:54,600 Sean: restrictions for New South Wales people, should be eased from 85 00:04:54,600 --> 00:04:57,470 Sean: next Monday. There was also good news on hospital front 86 00:04:57,770 --> 00:05:00,330 Sean: with the number of inpatients falling slightly, as did the 87 00:05:00,330 --> 00:05:03,300 Sean: number of people in intensive care and that's the data 88 00:05:03,589 --> 00:05:05,339 Sean: we're going to keep a close eye on now as 89 00:05:05,339 --> 00:05:06,049 Sean: we reopen. 90 00:05:06,279 --> 00:05:08,190 Michael: Yeah, absolutely. And how about Victoria? 91 00:05:08,460 --> 00:05:13,140 Sean: The numbers are still too high, 1, 377 yesterday. But 92 00:05:13,180 --> 00:05:15,420 Sean: the state government is starting to sound a lot like 93 00:05:15,420 --> 00:05:17,660 Sean: New South Wales did a few weeks ago, talking up 94 00:05:17,660 --> 00:05:20,339 Sean: the end of restrictions, even though they're still some way 95 00:05:20,339 --> 00:05:23,000 Sean: off. Some good news out of Victoria though, the first 96 00:05:23,000 --> 00:05:27,190 Sean: vaccine dose rate passed 82% yesterday with 53% of people 97 00:05:27,190 --> 00:05:30,650 Sean: fully vaccinated and the states talking about reducing the 14 98 00:05:30,650 --> 00:05:34,420 Sean: day isolation period for people who are vaccinated, but have 99 00:05:34,420 --> 00:05:36,210 Sean: been at tier one exposure sites. 100 00:05:36,620 --> 00:05:40,740 Michael: Yeah. And what about the ACT, the numbers remain relatively high? 101 00:05:41,000 --> 00:05:44,330 Sean: They do, 28 yesterday and two deaths. There's no sign 102 00:05:44,330 --> 00:05:48,289 Sean: of easing of restrictions in Canberra either. In Queensland, that 103 00:05:48,290 --> 00:05:51,000 Sean: state seems to have held Delta at bay. There was 104 00:05:51,000 --> 00:05:54,049 Sean: just one new case yesterday. The national one jab rate 105 00:05:54,050 --> 00:05:57,359 Sean: should hit 80% today or tomorrow, and that's a benchmark 106 00:05:57,360 --> 00:05:58,270 Sean: we should all applaud. 107 00:05:58,589 --> 00:06:02,339 Michael: All right. Now, Sean, we talk a lot about corporate 108 00:06:02,339 --> 00:06:04,560 Michael: deals just because there have been so many of them. 109 00:06:04,640 --> 00:06:08,210 Michael: Another one late last week, this involved Australian super purchasing 110 00:06:08,220 --> 00:06:12,980 Michael: 70% of OPTIC's mobile phone tower network for $ 1.9 billion. 111 00:06:13,810 --> 00:06:17,050 Sean: Aussie Super is the biggest superannuation fund in the country 112 00:06:17,270 --> 00:06:20,520 Sean: and the Optus steel continues to push super funds into 113 00:06:20,520 --> 00:06:23,510 Sean: infrastructure assets. Last week, we had to wear super as 114 00:06:23,510 --> 00:06:26,670 Sean: part of a consortium bidding for salary packaging and leasing 115 00:06:26,670 --> 00:06:29,630 Sean: company smart group. In the last three months, local and 116 00:06:29,630 --> 00:06:32,380 Sean: Canadian super funds have been involved in bids for Sydney 117 00:06:32,380 --> 00:06:35,960 Sean: airport and spark infrastructure. All these super funds, they love 118 00:06:35,960 --> 00:06:39,659 Sean: the reliability of income that comes from infrastructure assets. They 119 00:06:39,660 --> 00:06:41,810 Sean: love the long term nature of the asset and the 120 00:06:41,810 --> 00:06:44,980 Sean: fact that often returns are regulated, sometimes by government. And 121 00:06:44,980 --> 00:06:47,830 Sean: they're also businesses that are really hard to replicate. So, 122 00:06:47,830 --> 00:06:50,640 Sean: the barriers to entry are huge. Now, it's not quite 123 00:06:50,640 --> 00:06:52,460 Sean: on the same scale, but there are a couple of 124 00:06:52,460 --> 00:06:55,210 Sean: other smaller takeovers and outs yesterday as well. 125 00:06:55,400 --> 00:06:59,270 Michael: There was Nick Scali, is buying sofa retailer plush from 126 00:06:59,270 --> 00:07:02,660 Michael: Greenlit brands for a little over a hundred million dollars. That will double Nick 127 00:07:02,660 --> 00:07:08,100 Michael: Scali's physical stores and construction materials testing company, Antigua, received 128 00:07:08,100 --> 00:07:11,210 Michael: a takeover bid from Netherlands based (inaudible) worth about 129 00:07:11,210 --> 00:07:14,510 Michael: 400 million dollars. Antigua's share price yesterday jumped more than 130 00:07:14,530 --> 00:07:17,730 Michael: 50%. Nice if you were on it. Yeah, certainly was. 131 00:07:18,140 --> 00:07:22,340 Michael: Now Sean, I don't remember the last time I caught 132 00:07:22,600 --> 00:07:26,560 Michael: a taxi. The industry must be on its knees by 133 00:07:26,560 --> 00:07:29,900 Michael: now with new competitors like Uber and then with COVID 134 00:07:29,900 --> 00:07:31,850 Michael: lockdowns. What's the latest? 135 00:07:32,210 --> 00:07:35,830 Sean: You'd think so, but taxis had become very innovative. The 136 00:07:35,830 --> 00:07:39,900 Sean: boss of A2B, it's A2B, which owns the 13 cabs 137 00:07:39,900 --> 00:07:44,820 Sean: network and includes about 7, 200 vehicles believes innovation will get 138 00:07:44,820 --> 00:07:47,570 Sean: taxis through the current crisis. Now, there used to be 139 00:07:47,570 --> 00:07:50,560 Sean: more than 10,000 vehicles, so already, it's lost lots of 140 00:07:50,600 --> 00:07:53,980 Sean: vehicles and drivers, but Andrew Skelton, the boss, is backing 141 00:07:53,980 --> 00:07:57,250 Sean: two key areas for the industry. The first, is pushing 142 00:07:57,250 --> 00:08:01,510 Sean: into technology in payments processing. It owns something called FlamingoPay, 143 00:08:01,510 --> 00:08:06,040 Sean: which 13cabs claims is a highly cost effective payments platform 144 00:08:06,330 --> 00:08:09,250 Sean: for small and middle sized businesses. Now, of course, that 145 00:08:09,250 --> 00:08:11,810 Sean: includes taxi drivers, but the idea is to roll out 146 00:08:11,810 --> 00:08:15,380 Sean: this payment system to hundreds of thousands of other groups. 147 00:08:15,730 --> 00:08:19,240 Sean: The second, is electric vehicles. Mr. Skelton said around three 148 00:08:19,240 --> 00:08:23,180 Sean: quarters of taxis are now either electric vehicles or hybrids, 149 00:08:23,450 --> 00:08:26,680 Sean: much, much higher than competitive, such as Uber. Mr. Skelton 150 00:08:26,680 --> 00:08:29,810 Sean: believes customers will want to use non- combustion engine vehicles 151 00:08:29,810 --> 00:08:32,190 Sean: and he might have a point. Mr. Skelton's also confident 152 00:08:32,330 --> 00:08:34,670 Sean: that demand will pick up again when things open up. 153 00:08:34,929 --> 00:08:38,410 Michael: Okay, Let's go to one of my absolute favorite subjects. 154 00:08:38,510 --> 00:08:41,609 Michael: Brazil is one of the world's biggest agricultural producers and 155 00:08:41,790 --> 00:08:46,070 Michael: exporters. It's a major player in sugar, soybeans, rice and wheat 156 00:08:46,070 --> 00:08:50,340 Michael: markets. No surprise though. It's also the world's biggest producer 157 00:08:50,340 --> 00:08:53,329 Michael: of coffee. And I think it accounts for about half 158 00:08:53,380 --> 00:08:58,350 Michael: of the world's supply. Unfortunately, poor weather conditions has decimated 159 00:08:58,350 --> 00:09:01,470 Michael: crops and I'm really worried about this. We all might 160 00:09:01,480 --> 00:09:02,500 Michael: be feeling it soon. 161 00:09:02,770 --> 00:09:06,470 Sean: So true. So true. I like you, Michael, and am 162 00:09:06,470 --> 00:09:09,559 Sean: absolute coffee snob. For those of you listening, Michael actually 163 00:09:09,559 --> 00:09:12,480 Sean: sends us photos of his coffees at times. It's true. 164 00:09:13,190 --> 00:09:15,179 Sean: Having said that, he does have International Roast in the 165 00:09:15,179 --> 00:09:16,239 Sean: cupboard somewhere. Anyway... 166 00:09:16,240 --> 00:09:17,860 Michael: It's a backup. Only as a backup. 167 00:09:17,880 --> 00:09:21,090 Sean: I digress, coffee prices have gone through the roof, up 168 00:09:21,240 --> 00:09:24,970 Sean: more than 20% this year, according to IBISWorld, mostly it's 169 00:09:24,970 --> 00:09:27,800 Sean: because of the drought and severe frost in Brazil. And 170 00:09:27,800 --> 00:09:30,700 Sean: that's hit about 20% of the plantings, which actually aren't 171 00:09:30,700 --> 00:09:34,410 Sean: producing. That's pushed up prices. On top of that, Roasters 172 00:09:34,410 --> 00:09:37,900 Sean: are paying higher, transportation costs to import the beans and 173 00:09:37,900 --> 00:09:41,520 Sean: demand remains really high globally in Australia, in fact, it's 174 00:09:41,520 --> 00:09:45,130 Sean: up 7% last year. Put all that together, that regular 175 00:09:45,130 --> 00:09:46,900 Sean: fat wide isn't going to cost you three bucks 50 176 00:09:46,900 --> 00:09:48,410 Sean: for long, Michael, could be more. 177 00:09:48,600 --> 00:09:50,960 Michael: Sean. You've got me really worried now, I was down 178 00:09:50,960 --> 00:09:54,170 Michael: to my last kilo of beans this morning. So, I 179 00:09:54,170 --> 00:09:56,530 Michael: shall be ordering more. In fact, I may be stocking 180 00:09:56,530 --> 00:10:03,810 Michael: up. All right, Sean, what's making headlines in today's news media. 181 00:10:04,179 --> 00:10:07,380 Sean: The financial review is reporting that the Morrison government will 182 00:10:07,380 --> 00:10:11,100 Sean: push ahead with the establishment of the federal anti- corruption 183 00:10:11,100 --> 00:10:14,740 Sean: commission. Something akin to New South Wales IAC, but the 184 00:10:14,740 --> 00:10:17,610 Sean: government is at odds with labor over whether the new 185 00:10:17,610 --> 00:10:21,069 Sean: body should have retrospective powers to investigate the actions of 186 00:10:21,070 --> 00:10:25,030 Sean: former MP's and public officials. A news poll commission by 187 00:10:25,030 --> 00:10:29,260 Sean: the Australian shows that only 27% of voters are firmly 188 00:10:29,260 --> 00:10:33,510 Sean: against the idea of a domestic nuclear industry, if it 189 00:10:33,559 --> 00:10:36,849 Sean: were to be part of Australia's future energy mix. And 190 00:10:36,850 --> 00:10:40,110 Sean: finally, the Sydney morning Herald is reporting that Facebook and 191 00:10:40,110 --> 00:10:44,270 Sean: its Instagram and WhatsApp platforms were down early this morning, 192 00:10:44,429 --> 00:10:48,790 Sean: a global outage apparently. Imagine that, Michael, a world without Facebook. 193 00:10:49,050 --> 00:10:51,890 Michael: There's a few other stories doing the rounds today. Sean, 194 00:10:51,890 --> 00:10:54,369 Michael: New South Wales should find out who its new Premier 195 00:10:54,429 --> 00:10:57,729 Michael: is today with treasurer, Dominic Perrottet, favorite to replace Gladys 196 00:10:57,740 --> 00:11:02,020 Michael: Berejiklian, who of course resigned on Friday. And the state 197 00:11:02,020 --> 00:11:04,689 Michael: also needs a new deputy Premier as well after John 198 00:11:04,700 --> 00:11:07,809 Michael: Barilaro, who's the leader of the nationals, said he would 199 00:11:07,809 --> 00:11:09,510 Michael: step down as leader of that party. 200 00:11:09,850 --> 00:11:13,500 Sean: Talk about wholesale change. Commonwealth Bank has completed its 6 201 00:11:13,500 --> 00:11:18,010 Sean: billion buyback and it was over subscribed by four times. 202 00:11:18,059 --> 00:11:21,699 Sean: In other words, 24 billion dollars worth of shares were 203 00:11:21,700 --> 00:11:24,360 Sean: offered back to the bank. I'm never sure whether the 204 00:11:24,380 --> 00:11:26,120 Sean: bank will be happy or not that people want to 205 00:11:26,120 --> 00:11:28,590 Sean: get rid of their shares. Anyway, it means shareholders will 206 00:11:28,590 --> 00:11:30,880 Sean: be able to sell less of their stock than they 207 00:11:30,880 --> 00:11:31,340 Sean: had wanted. 208 00:11:31,720 --> 00:11:34,079 Michael: And what's the key overseas news this morning, Sean. 209 00:11:34,309 --> 00:11:37,170 Sean: I've spoken quite a bit about Evergrande, the massive Chinese 210 00:11:37,170 --> 00:11:40,620 Sean: property company that can't repay its debts. It looks like 211 00:11:40,620 --> 00:11:45,000 Sean: another Chinese property company Hopson could be taking a 51% 212 00:11:45,000 --> 00:11:48,150 Sean: stake in the company for about 5 billion US dollars. 213 00:11:48,610 --> 00:11:50,850 Sean: Both companies are listed on the Hang Seng in Hong 214 00:11:50,850 --> 00:11:54,100 Sean: Kong and went into a trading halt yesterday. If nothing 215 00:11:54,100 --> 00:11:57,000 Sean: else, it should provide some reassurance to (inaudible) share 216 00:11:57,080 --> 00:12:01,620 Sean: markets from Asia through Europe, across North America. Also, New 217 00:12:01,620 --> 00:12:05,219 Sean: Zealand has abandoned its strategy of eliminating the Coronavirus and 218 00:12:05,220 --> 00:12:08,410 Sean: will ease some restrictions in Auckland. There were 29 new 219 00:12:08,410 --> 00:12:12,319 Sean: cases yesterday taking the total number in the current outbreak to 1, 220 00:12:12,320 --> 00:12:16,250 Sean: 357. Now the majority of those are in Auckland and 221 00:12:16,250 --> 00:12:18,609 Sean: that city has been in lockdown for seven weeks, but 222 00:12:18,610 --> 00:12:22,319 Sean: Prime Minister Jacinda Ardern has changed (inaudible) and there's been 223 00:12:22,320 --> 00:12:25,620 Sean: a massive leak of financial records known as a Pandora 224 00:12:25,620 --> 00:12:29,660 Sean: papers that have revealed the offshore financial asset dealings of 225 00:12:29,660 --> 00:12:33,040 Sean: dozens of current and former world leaders. You're going to 226 00:12:33,040 --> 00:12:37,319 Sean: hear about this for months. The international consortium of investigative 227 00:12:37,380 --> 00:12:41,510 Sean: journalists have unveiled financial information about all sorts of people, 228 00:12:41,510 --> 00:12:45,070 Sean: including one time UK Prime Minister, Tony Blair, the king 229 00:12:45,070 --> 00:12:48,720 Sean: of Jordan, Queen Elizabeth, second Pakistani Prime Minister, Imran Kane, 230 00:12:49,350 --> 00:12:50,809 Sean: and many, many more. 231 00:12:51,030 --> 00:12:54,670 Michael: Yeah, crazy story. Extraordinary. All right. Up next is the 232 00:12:54,670 --> 00:12:58,240 Michael: daily interview. And today, you're speaking to Romano Sala Tenna 233 00:12:58,240 --> 00:13:01,050 Michael: from Katana Asset Management. This one's all about the oil 234 00:13:01,050 --> 00:13:01,790 Michael: and gas sector. 235 00:13:02,040 --> 00:13:04,070 Sean: Sure is. It is a really hot sector at the 236 00:13:04,070 --> 00:13:06,809 Sean: moment. So much going on. Energy prices over the last 237 00:13:06,809 --> 00:13:08,410 Sean: week, again, going through the roof. 238 00:13:08,770 --> 00:13:10,380 Michael: All right, that's up next in the Fear and Greed 239 00:13:10,380 --> 00:13:13,940 Michael: playlist on your podcast platform or@ fearandgreed. com. au. Thank 240 00:13:13,940 --> 00:13:14,590 Michael: you very much, Sean. 241 00:13:14,880 --> 00:13:15,470 Sean: Thank you, Michael. 242 00:13:15,980 --> 00:13:19,250 Michael: It's Tuesday, the 5th of October, 2021, make sure you're 243 00:13:19,250 --> 00:13:22,429 Michael: following the podcast and join us online on Twitter, Facebook 244 00:13:22,429 --> 00:13:26,970 Michael: and LinkedIn. And please sign up for our free daily newsletter@ fearandgreed. com. 245 00:13:27,490 --> 00:13:29,840 Michael: au. I'm Michael Thompson, and that was Fear and Greed. 246 00:13:29,900 --> 00:13:30,610 Michael: Have a great day.